Emcure Acquires Cutimed Inc., Merges with Mantra

Emcure's step-down subsidiary Mantra Pharma Inc. acquired 100% of Cutimed Inc. for up to CAD $5.05 million cash on April 01, 2026.
Cutimed Inc., a Québec-incorporated cosmetics and dermatological products company, had FY2025 turnover of CAD $2.8 million.
Post-acquisition, Cutimed was immediately amalgamated into Mantra Pharma Inc. via short-form procedure under the Business Corporations Act (Québec).
No change in Emcure's shareholding pattern; acquisition aligns with the Group's Canadian dermatology and cosmetic portfolio strategy.